Displaying items by tag: GCW359

Nepal: Huaxin Cement has signed a project investment agreement with the Investment Board Nepal (IBN) to build a US$140m plant. Xu Gang, vice-president of Huaxin Cement signed the deal with Maha Prasad Adhikari, the chief executive (CEO) of IBN, during a visit by Nepalese Prime Minister KP Sharma Oli to Beijing, according to the Kathmandu Post. The unit will have a production capacity of 3000t/day. The local subsidiary, Huaxin Cement Narayani, has already acquired a limestone mine at Panikharkha in Dhading. The IBN will also support the project by assisting the government to build a transmission line to supply 18MW of electricity to the unit.

KP Sharma Oli also signed an agreement with the Chinese government to build a cross-border railway between Kathmandu and Kerung in Tibet.

Colombia: The Council of State has confirmed a US$0.31m fine to Holcim Colombia imposed by the Superintendent of Industry and Commerce (SIC) for fixing the price of cement. The ruling follows a similar confirmation of a fine to Cemex. The court found that an agreement between Cemex Colombia, Holcim Colombia and Cementos Argos distorted the price, supply and sales of Ordinary Portland Cement in the second half of 2005.

Nepal: Shivam Cement has received approval from the Securities Board of Nepal (SEBON) to launch an initial public offering. It will be the first cement producer in the country to become public, according to the Republica newspaper. Shivam Cement operates a 1250t/day plant and it has a captive limestone mine. The company also holds a 30% share in Hongshi-Shivam Cement, a Nepalese-Chinese joint venture that has started trial production at the Hongshi Cement near Dumkibaas in Nawalparasi district.

El Salvador: The Superintendence of Competition (SC) has started investigating the effects of competition in the production and sales of cement upon the local construction industry. The study is being conducted by GPR Economy, an Argentine company, according to the El Mundo newspaper. It will examine any potential monopoly distortions in the local cement, asphalt and heavy machinery industries. The country has two integrated cement plants that are both operated by Holcim El Salvador.

Philippines: Eagle Cement expects to save up to US$9.9m from a three-year income tax holiday for its new cement production line at its Barangay plant in Bulacan. The cement producer says it has been granted the tax exemption from the Board of Investments as it’s the only company expanding its production capacity, according to the Inquirer newspaper. Its competitors have been expanding their distribution capacity instead. Other savings are also anticipated from importing equipment from outside the country.

The company started producing cement on its third production line at its Barangay plant in April 2018. The upgrade added 2Mt/yr to the company’s total production capacity. It expects to reach its full capacity by the third quarter of 2018. The company is also building a new 2Mt/yr cement plant at Cebu is scheduled to be completed in 2020.

US: Ireland’s CRH has completed its acquisition of Ash Grove Cement. It agreed to buy Ash Grove Cement in mid-2017 for US$3.5bn. The Federal Trade Commission (FTC) issued its consent for the transaction on the condition that CRH sell the Three Forks cement plant in Montana. It also forced CRH to sell other assets in Montana, Nebraska and Kansas.

Bosnia & Herzegovina: Coal producer Banovici plans to build a 1.1Mt/yr cement plant for Euro250m. It has already obtained the necessary documents and secured an environmental permit. Work on the plant is planned to begin in 2019, according to Ekapija. The company said that a strategic partner would provide the funds and ‘may’ build the plant or choose the contractor for its construction. Cement from the plant will be used locally and exported to Serbia, Montenegro and Croatia.

Kazakhstan: Gezhouba Shieli Cement plans to commission its 1Mt/yr plant in the Kyzylorda region in December 2018. The US$188m unit will be used to produce oil well cement, according to Interfax. The project is a joint venture majority owned by Chinese investors with a minority stake from a local cement company. The plant is being built by China Triumph International Engineering.

China: China National Building Material (CNBM) has agreed to buy a further 18.7% stake in Southwest Cement for US$295m from Zhonshai Trust. The building materials producer already owns a 70% majority stake in its subsidiary. The remaining stake in Southwest Cement is owned by Shanghai Zhentong (6.3%) and Beijing Huachen (5%).

Mozambique: Singapore’s Compact Metal Industries plans to buy a 51% stake in a partially built cement plant at Salamanga, Bela Vista in Maputo Province. Construction of the 5000t/day plant started in 2012 and it has been ‘substantially’ completed, according in a financial filing by Compact Metal Industries. The unit is owned by CIF-MOZ, a joint venture owned by SPI (54%) and Guhava (45%). Compact Metal Industries intends to buy 34% from SPI and 17% from Guhava. As part of the deal it will settle any existing debts to suppliers and then complete the plant. Completion of the plant is expected to take around eight months.